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Why Estée Lauder Stock Soared Almost 5% Higher on Monday
Well before market open on Monday, Estée Lauder Companies (NYSE: EL) stock received a boost without the company even trying. An analyst upgraded his recommendation on the storied cosmetics company, and investors greeted the news by boosting its share price by nearly 5%. This was more than quintuple the percentage rate gain of the S&P 500 index on the day.The analyst doing the upgrading was Steve Powers from veteran international lender Deutsche Bank. Powers has had a change of view on Estée Lauder, as he modified his recommendation to buy from his previous hold. His price target is $95 per share, quite a change from his preceding $71 level. Image source: Getty Images.Continue reading
Well before market open on Monday, Estée Lauder Companies (NYSE: EL) stock received a boost without the company even trying. An analyst upgraded his recommendation on the storied cosmetics company, and investors greeted the news by boosting its share price by nearly 5%. This was more than quintuple the percentage rate gain of the S&P 500 index on the day.
The analyst doing the upgrading was Steve Powers from veteran international lender Deutsche Bank. Powers has had a change of view on Estée Lauder, as he modified his recommendation to buy from his previous hold. His price target is $95 per share, quite a change from his preceding $71 level.
Image source: Getty Images.
